What if the money we used could also do good every time we spent it? There’s a movement among cryptocurrency developers to add a social purpose to the coins they make. Earth911’s Mitch Ratcliffe talks with the co-creators of the World of Waves token, a cryptocurrency that has a “built-in tax” that “[support] as many charitable organizations in the world as possible while rewarding holders with substantial returns.” Sami Touzani and Kristijan Tot explain how they developed the idea of a crypto token aimed at helping clean up the world’s oceans.
Every time a World of Waves coin is used in a transaction, 11% of the value is set aside, part of it to help save our oceans. 3.3% goes to the people who hold the coins, as a kind of dividend, 3.3% goes into the liquidity pool, an account that serves a similar purpose to a market maker that guarantees the ability to buy or sell shares of a stock in the stock market. And 4.4% goes to charitable organizations that preserve oceans. You can track the current value of the World of Waves token at CoinMarketCap.
We do not address all the intricacies of owning cryptocurrency during this conversation and this podcast is not an endorsement of the World of Waves token. Earth911 urges you to carefully consider any investment before making a decision to buy or sell any assets.